Michael Late Benedum
American businessman (1869-1959)
Michael Late Benedum (July 16, 1869 – July 30, 1959) was a wealthy businessman from Pittsburgh, Pennsylvania, who made his fortune in the oil and natural gas industry in the early 20th century. Benedum accumulated immense wealth and became one of the richest men in America. His story is still celebrated in West Virginia and Pennsylvania, where he is considered a true American success story.
Early life and family
Benedum was born in Bridgeport, West Virginia. His mother, Caroline Southworth Benedum, named him after the family doctor Michael Late. Michael attended school until age 16, when he quit to take his first job at the Davison Flour Mill where he worked 12 hours a day and was paid $16 a month.
His only son, Claude Worthington Benedum, was born in 1898 in Cameron, West Virginia, but died at the age of 20 during the 1918 Spanish flu pandemic while working with the United States Army on chemical warfare.
Career
Benedum's career got a lucky start after a chance encounter on a train with a superintendent of the South Penn Oil Company. Benedum was known for his negotiating skills and his success as a wildcatter. He is said to have found "more oil in more places than anyone in history." With his long-term business partner Joe Trees, Benedum created the Benedum-Trees Oil Company.
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